As the BHC’s sole shareholder is the Town of Banff, the sitting Council represents the shareholder. The shareholder appoints a board of directors that governs the administration of the BHC. The board includes: two councillors from the Town of Banff; four public members; and one senior administrator from the Town of Banff.

The BHC’s focus is to provide value-priced home opportunities for residents of Banff by developing lands within the Town of Banff boundary and offering them via sub-lease. Although, for simplicity, we refer to “homeowners” and “home ownership” throughout these FAQs, the proper legal terms would be “sub-lessees” and “sub-lease tenure”. BHC sub-lease

The BHC owns a percentage of the home (anywhere from 13.2 % to 35.32%), and the homeowner pays for and owns the rest. When the home is sold, the BHC can choose to continue in this arrangement with the new buyer, so that the new buyer pays for less than 100% of the market value of the home. Over time, if house prices increase, the dollar value of the BHC’s share and the dollar value of the homeowner’s share both increase at the same rate.

For example, say the following property was constructed in 2001:

SALE PRICE $240,000

FAIR MARKET VALUE (FMV) OF HOUSE $300,000

BHC EQUITY SHARE $60,000

SUB LEASE PERCENTAGE 80% HOMEOWNER/ 20% BHC

Now imagine a sale of that same house taking place in 2011. Suppose there have been increases in the real estate market and the homeowner has found a purchaser for their property at a sale price of $550,000, the following would represent the breakdown in equity share:

SALE PRICE OF HOUSE $550,000

HOMEOWNER EQUITY SHARE $440,000

BHC EQUITY SHARE $110,000

If the BHC decides to continue in the equity share arrangement with the new buyer, then the new buyer is acquiring the use of a home worth $550,000, but he/she is paying $440,000.

The BHC owns a percentage of the home (generally a minimum of 20%, however at any time it is the difference between the maximum price restricted amount and the Fair Market Value of the property at that time), and the homeowner pays for and owns the rest. The future resale price of these properties is tied to a price restriction of two percent per annum, compounded annually. The price restriction is tied to the amount that the purchaser paid for the unit, so if when the property originally sold the Fair Market Value (FMV) of the property was $300,000 and the initial purchaser had paid $240,000 for the property or eighty percent (80%) of the FMV, the price restriction is two percent per annum compounded annually from the price the purchaser paid, in this case $240,000.

For example, imagine buying this house June 1st 2011:

FAIR MARKET VALUE (FMV) OF HOUSE $550,000

INITIAL HOMEOWNER PURCHASE PRICE AT 80% OF FMV $440,000

BHC EQUITY SHARE $110,000

If you want to sell it in 2021 on the anniversary of your possession date (June 1st), and the FMV of the home has at that time was $700,000, regardless of what has happened in the real estate market in the meantime, your sale price will be a maximum of $440,000 plus 2% per annum, compounded annually: $536,357.24

Anyone who meets Parks Canada’s eligible resident requirements and who will meet the BHC’s sublease requirement of owner occupancy can own a BHC property. However, potential buyers are prioritized on the Registered Resale List, which is described below.

Parks Canada’s eligible resident regulations require that those who wish to live in Banff National Park must meet at least one of the following criteria (for further details please contact Parks Canada at 403-762-1500):

(a) an individual whose primary employment is in the park,

(b) an individual who operates a business in the park and whose presence at the place of business is necessary for the day-to-day operation of the business,

(c) a retired individual who resides in the park and who, for five consecutive years immediately prior to retirement: (i) was employed primarily in that park, or (ii) operated a business in that park and whose presence at the place of business was necessary for the day-to-day operation of the business,

(d) a retired individual who resided in the park at the time of the individual's retirement and who resided in that park on July 30, 1981,

(e) an individual who is a student in full-time attendance at an educational institution that is located within the park and registered under the Income Tax Act or applicable provincial legislation relating to education,

(f) an individual who is a lessee of public lands in the park and who (i) was the lessee of those public lands prior to May 19, 1911, or (ii) is a descendant, by blood or adoption, of an individual who was the lessee of those public lands prior to May 19, 1911, or

The vast majority of land in the Town of Banff is leased from Parks Canada. The BHC leases some of this land. Individuals who acquire a BHC property are acquiring a sub-leasehold interest in the property and the terms and conditions of this interest are outlined in the BHC’s sublease agreement.

The head lease is the original lease directly between the land owner (Parks Canada) and the tenant (in our case, the BHC), typically the BHC head lease is for 42 years. If you have questions about the implications of living on Parks Canada leased land please discuss this with your lawyer.

Yes. All those articles that the BHC is bound to through the head lease form part of the BHC’s sublease agreement, but in addition to those the BHC’s sublease does contain other articles. The term of the sublease will be slightly shorter than the term of the BHC’s head lease and will vary by sublease.

The BHC is allowed to charge each homeowner an annual fee to support the cost of administering the organization. This fee is set by the board. It cannot be higher than 25 cents per square foot of gross floor area. Whenever a change in the fee is proposed, homeowners will be notified and given a chance to comment. (Article 3 of the sub-lease). BHC sub-lease

BHC homes must be used as the homeowner’s primary residence. If the homeowner wants to rent out his/her home, he/she must make a formal request to the Board of BHC, which may or may not be approved. You can see the Board’s policy on rental requests at this link. (Article 4 of the sub-lease). BHC sub-lease

Homeowners are responsible for 100 per cent of all rates, taxes, duties, utility charges, assessments, and other charges. Homeowners must always keep the property properly and fully insured and must pay all associated costs. (See Articles 6 and 10 of the sub-lease). BHC sub-lease

When a formal offer to purchase is made on a property, the BHC Board is required to make three choices:

Whether or not to consent to the sale. There must be reasonable grounds for the BHC not to consent to the sale of a BHC property. For example, consent would be withheld if it is known that the purchaser would not be using the property as their principle residence; if the purchaser is not a resident of the Town of Banff and does not meet Parks Canada’s eligible resident requirements; or if the purchaser of the BHC unit was a business.

Whether or not to exercise their Right of First Refusal(ROFR) by matching the offer and acquiring 100% of the property for the BHC

Whether or not to continue the equity share arrangement with the new buyer. This decision is at the Board’s sole discretion, but is guided by an appraisal based process.

The Board has 15 days to make these decisions.

A sale can be completed only if the Board consents and if it decides not to exercise its ROFR. The equity share arrangement may or may not be extended to the new buyer. (See Article 8 of the sub-lease) BHC sub-lease

The BHC has a Right Of First Refusal on all bona fide offers to purchase specific to a BHC property. It is to the sole discretion of the BHC to exercise this ROFR and re-acquire a BHC property per the terms and conditions of any bona fide offer presented to the BHC for consideration of consent and deferral of the BHC’s equity share in the transaction.

This would require the consent of the BHC Board. If there are reasons why the Board should not consent (for example, your heirs are not eligible residents, or your heirs don’t plan to make this their principal residence, or there is a long list of people on the Registered Resale List who have more points than your heirs), the property will need to be sold and your heirs will receive the proceeds of your share. The Board could also choose to agree to the transfer of the property to your heirs, but not agree to pass on the equity share arrangement to your heirs. (See Article 8 of the sub-lease). BHC sub-lease

Existing BHC homeowners can sell their property in three different ways:They can sell privately (to date, in every instance of private sale, the Board has requested that the purchaser pay 100 per cent of the sale price of the property.);They can sell through a real estate agent (in which case the homeowner is responsible for the full real estate fee and in every instance where this has occurred the Board requested that the purchaser pay 100 per cent of the sale price of the property); orThey can sell through the BHC’s Registered Resale List (RRL). For equity share properties the BHC charges a fee of 0.6 per cent of market value (2013) for this service of which $500+GST is due upfront and is non-refundable. For price restricted properties the BHC charges a $2,193+GST (2013) fee for this service of which $500+GST is due upfront and is non-refundable.In all three scenarios, once an offer to purchase has been signed for a BHC property the BHC Board must be provided with a copy of the signed offer and then has fifteen (15) days from receipt of the offer to make the three decisions described above.

Applications for the RRL are free and can be picked up at the front desk of Town Hall (110 Bear Street) Monday to Friday (excluding holidays) from 8:30 a.m to 4:30 p.m. To submit a completed application, applicants must return pages 5, 6 and 7 along with a one-time non refundable fee of $50. Applicants will be required to re-confirm their willingness to be on the RRL annually. No additional fees are charged for these re-confirmations. Registered Resale List Application (PDF)

Two points or part thereof are awarded for every full year an applicant lived in Banff;One point or part thereof is awarded for every full year an applicant lived in the Bow Valley;10 points is awarded for each dependent child or dependent adult who lives with the applicant on a full-time basis;Five points is awarded for each dependent child or dependent adult who lives with the applicant on a part-time basis;Single parents can receive additional points for dependent children if they can demonstrate that they have sole custody of the dependent(s);10 points will be awarded per application where all listed applicants do not own (personally, jointly, indirectly or through business assets) any dwelling anywhereAs of July 1, 2013 the maximum amount of points any one applicant can receive for residency in Banff and/or the Bow Valley or the combination of the two will be 20 points as per the BHC Shareholder motion BHCS12-5

If a homeowner of an equity-share property presents an offer to purchase for their unit that has come through a private sale or through a real estate agent, the BHC will have 15 days to review the offer and make the three key decisions described above.To date, the Board has only consented to the sale and deferred payment of the BHC’s equity share if the sale has occurred through the BHC’s prioritized Registered Resale List (RRL)

If an existing owner wishes to sell their property through the BHC’s RRL process, the following applies:

The homeowner will contact the BHC and inquire as to what the process of sale through the Registered Resale List (RRL) entails;The BHC will discuss the process verbally with the homeowner and then forward to the homeowner a letter which must be returned along with a non-refundable $525 deposit ($500+GST) before the process of resale through the RRL will begin. The fee for selling an equity share property through the RRL is currently 0.6% of the market value of the property as identified in the offer to purchase, the $525 deposit amount will be deducted from the fee due(paid for by the vendor);Once the BHC receives the letter and non-refundable cheque for $525, the RRL is frozen. Applicants who put their name on the RRL after the RRL is frozen must wait until the frozen RRL is exhausted before any opportunity to view or discuss the acquisition of that particular property can occur, regardless of the number of points they have. (For properties that are listed for sale after the applicant putting their name on the RRL, the applicant will have their place on the list and be part of the sale process in point order);The BHC and the homeowner work through an appraisal-based process to determine the base market value of the home. This process is described below.Once the BHC receives the letter and non-refundable cheque for $525 from the homeowner, the BHC will work with the homeowner to establish a date and time for the first house showing. The homeowner has the final say on the date and time of the showing, however showings are usually in the evening and can held any day except Friday, Saturday or holidays;The BHC will produce a specification sheet for the property and forward it to the homeowner for final editing and approval. This spec sheet will be provided to all those who attend the showing;The BHC has group showings and will usually invite anywhere from thirty to forty (30-40) applicants to a particular showing (subject to discussion with the homeowner, if they want fewer invitees at any given showing then this will be accommodated). Calls for the showings will go out at least two days before the date of showing;On the evening of the showing, the BHC will be present to show the property. If the homeowner chooses to show the property themselves that is fine, however a BHC representative will still be at the showing to greet and take note of the RRL applicants who attend;If an applicant who is invited cannot attend a showing and advises the BHC before the date of the showing, the BHC will arrange for an alternative time for the applicant to view the property;If an applicant who is invited to the showing does not confirm their attendance for the showing and/or does not attend the showing, the BHC deems that the applicant is not interested in the property and that they have passed on the opportunity;Following the showing, the BHC will work with those who attend (in point order) and afford them an exclusive opportunity to discuss the acquisition of the property with the homeowner;When an applicant’s opportunity to speak with the homeowner presents itself, there is a 48-hour window for an applicant to discuss the acquisition of the property with the homeowner (Note: the 48 hrs does not include weekends or holidays, however, the BHC encourages both parties to discuss the acquisition through the weekend/holiday if possible). During the 48 hrs, the BHC is simply waiting to see if the parties can agree verbally to price and conditions. If both parties agree to such (verbally), this freezes the process and the potential purchaser will then go to their lawyer to draft up an offer to purchase, which they then sign and forward to the homeowner’s lawyer for review and the homeowner’s signature. Once both parties sign off on the offer, the offer is forwarded to the BHC;If at the end of the 48 hrs the parties have not come to an agreement on price and conditions but they wish to keep speaking and the homeowner is agreeable to this, the conversations will continue until such time that the homeowner advises the BHC that they have come to an agreement or that they cannot come to an agreement and the BHC should move forward to the next applicant. The 48 hr window of time exists only to keep the process moving forward, if a homeowner wishes to have more than 48 hrs to discuss the acquisition of their property with any RRL applicant it is to the discretion of the homeowner to do so;If an applicant who attends a showing passes on their opportunity to speak with the homeowner or cannot come to an agreement with the homeowner on price and conditions within their window of time (48 hrs) or any such time that the homeowner has allowed, the BHC will continue on through the list of attendees of the showing (in point order) in the same manner as identified above until such time that an agreement has been reached or that we have exhausted the list of those who have attended;If the BHC exhausts the list of those who have attended a particular showing with no offers being accepted by the homeowner, the BHC will then arrange with the homeowner a subsequent showing where the next group of applicants will be invited;This process will continue until either the homeowner accepts an offer or the BHC exhausts the existing RRL and any new applicants who have come on the RRL since the property first began showing;If at any time in the process an applicant makes an offer on a property and the homeowner is unable to accept the applicant’s best offer and requests that the BHC proceed with the process, the BHC will ask the applicant what their offer price was. If as the process moves forward the homeowner accepts an amount at or below any previous offer price, the BHC will return to the applicant who had made an offer at or above the existing offer price and inquire as to whether they continue to want the property at their previous offer price. If the answer is yes the BHC has the right to exercise its Right of First Refusal (ROFR) and re-acquire the property at the current offer price and then sell it (at a different amount) to the applicant whose offer had previously been declined.If the BHC both exhausts the existing RRL and all new applicants to the RRL from the time the property first went for sale without the homeowner accepting an offer for their property, the BHC will go through the list of RRL applicants a second time, after which time the non-refundable fee ($500+GST) is forfeited and the homeowner must provide a new letter indicating they wish to sell the property and provide a new $500+GST non-refundable deposit as part of a new $2500+GST fee.If the property is to be shown through the RRL a second time the homeowner will adjust their initial asking priceIf a homeowner of an equity share unit presents an offer to purchase for their unit that has come through the RRL process, per their sublease agreement, once the BHC receives a signed copy of said offer the BHC will have fifteen (15) days to review the offer and make the three key decisions described above.

If a homeowner of a price-restricted property presents an offer to purchase for their unit that has come through a private sale or through a real estate agent, the BHC will have 15 days to review the offer and make the three key decisions described above.

To date, the Board has only consented to the sale and deferred payment of the BHC’s equity share if the sale has occurred through the BHC’s prioritized Registered Resale List (RRL)

If an existing owner of a price-restricted property wishes to sell their property through the BHC’s RRL process the following applies:The homeowner will contact the BHC and inquire as to what the process of sale through the Registered Resale List (RRL) entails;The BHC will discuss the process verbally with the homeowner and then forward to the homeowner a letter which must be returned along with a non-refundable $525 deposit ($500+GST) before the process of resale through the RRL will begin. The fee for selling a price-restricted property through the RRL is currently $2193+GST, the $525 deposit amount will be dedcuted from the fee due (paid for by the vendor);The homeowner is not required to procure an appraisal as part of the sale process through the RRL however it is recommended that they do so to help guide their asking price;The BHC will provide the homeowner with information specific to the maximum resale price of their property based on projected closing dates. The actual maximum resale price can only be determined once the closing date of the transaction has been set;Once the BHC receives the letter and non-refundable cheque for $525, the RRL is frozen. Applicants who put their name on the RRL after the RRL is frozen must wait until the frozen RRL is exhausted before any opportunity to view or discuss the acquisition of that particular property can occur, regardless of the number of points they have. (For properties that are listed for sale after the applicant putting their name on the RRL, the applicant will have their place on the list and be part of the sale process in point order);Once the BHC receives the letter and non-refundable cheque for $525 from the homeowner, the BHC will work with the homeowner to establish a date and time for the first house showing. The homeowner has the final say on the date and time of the showing, however showings are usually in the evening and can held any day except Friday, Saturday or holidays;The BHC will produce a specification sheet for the property and forward it to the homeowner for final editing and approval. This spec sheet will be provided to all those who attend the showing;The BHC has group showings and will usually invite anywhere from thirty to forty (30-40) applicants to a particular showing (subject to discussion with the homeowner, if they want fewer invitees at any given showing then this will be accommodated). Calls for the showings will go out at least two days before the date of showing;On the evening of the showing, the BHC will be present to show the property. If the homeowner chooses to show the property themselves that is fine, however a BHC representative will still be at the showing to greet and take note of the RRL applicants who attend;If an applicant who is invited cannot attend a showing and advises the BHC before the date of the showing, the BHC will arrange for an alternative time for the applicant to view the property;If an applicant who is invited to the showing does not confirm their attendance for the showing and/or does not attend the showing, the BHC deems that the applicant is not interested in the property and that they have passed on the opportunity;Following the showing, the BHC will work with those who attend (in point order) and afford them an exclusive opportunity to discuss the acquisition of the property with the homeowner;When an applicant’s opportunity to speak with the homeowner presents itself, there is a 48-hour window for an applicant to discuss the acquisition of the property with the homeowner (Note: the 48 hrs does not include weekends or holidays, however, the BHC encourages both parties to discuss the acquisition through the weekend/holiday if possible). During the 48 hrs, the BHC is simply waiting to see if the parties can agree verbally to price and conditions. If both parties agree to such (verbally), this freezes the process and the potential purchaser will then go to their lawyer to draft up an offer to purchase, which they then sign and forward to the homeowner’s lawyer for review and the homeowner’s signature. Once both parties sign off on the offer, the offer is forwarded to the BHC;If at the end of the 48 hrs the parties have not come to an agreement on price and conditions but they wish to keep speaking and the homeowner is agreeable to this, the conversations will continue until such time that the homeowner advises the BHC that they have come to an agreement or that they cannot come to an agreement and the BHC should move forward to the next applicant. The 48 hr window of time exists only to keep the process moving forward, if a homeowner wishes to have more than 48 hrs to discuss the acquisition of their property with any RRL applicant it is to the discretion of the homeowner to do so;If an applicant who attends a showing passes on their opportunity to speak with the homeowner or cannot come to an agreement with the homeowner on price and conditions within their window of time (48 hrs) or any such time that the homeowner has allowed, the BHC will continue on through the list of attendees of the showing (in point order) in the same manner as identified above until such time that an agreement has been reached or that we have exhausted the list of those who have attended;If the BHC exhausts the list of those who have attended a particular showing with no offers being accepted by the homeowner, the BHC will then arrange with the homeowner a subsequent showing where the next group of applicants will be invited;This process will continue until either the homeowner accepts an offer or the BHC exhausts the existing RRL and any new applicants who have come on the RRL since the property first began showing;If at any time in the process an applicant makes an offer on a property and the homeowner is unable to accept the applicant’s best offer and requests that the BHC proceed with the process, the BHC will ask the applicant what their offer price was. If as the process moves forward the homeowner accepts an amount at or below any previous offer price, the BHC will return to the applicant who had made an offer at or above the existing offer price and inquire as to whether they continue to want the property at their previous offer price. If the answer is yes the BHC has the right to exercise its Right of First Refusal (ROFR) and re-acquire the property at the current offer price and then sell it (at a different amount) to the applicant whose offer had previously been declined.If the BHC both exhausts the existing RRL and all new applicants to the RRL from the time the property first went for sale without the homeowner accepting an offer for their property, the BHC will go through the list of RRL applicants a second time, after which time the non-refundable fee ($500+GST) is forfeited and the homeowner must provide a new letter indicating they wish to sell the property and provide a new $500+GST non-refundable deposit as part of a new $2150+GST fee.If the property is to be shown through the RRL a second time the homeowner will adjust their initial asking priceIf a homeowner of an price-restricted unit presents an offer to purchase for their unit that has come through the RRL process, per their sublease agreement, once the BHC receives a signed copy of said offer the BHC will have 15 days to review the offer and make the three key decisions described above.

Specific to the equity-share properties, there is a process that both the BHC and the homeowner undertake that helps determine when the BHC will defer payment of its equity share when an offer is presented for consideration. This process is as follows:

Step 1: Getting ready to sell The Banff Housing Corporation and the Homeowner make a binding agreement regarding the “Base Market Value” of the home.The Homeowner notifies the Banff Housing Corporation that he/she intends to sell.The Homeowner and the Banff Housing Corporation each procure an appraisal from a list of approved appraisers at their own expense, and simultaneously provide the appraisal to the other party. All appraisals should have at least one non-Banff Housing Corporation home as a comparable.The average of the two appraisals will be accepted as the “Base Market Value” valid for a period of 3 months.If the appraisals differ by more than 8%, there will be a 48 hour review period while the homeowner and the Banff Housing Corporation discuss and decide whether either party wishes to obtain a 3rd appraisal. Should either party obtain a third appraisal (at their own cost, unless both parties deem it necessary in which case the costs will be shared equally) the “Base Market Value” is the average of the 3 appraisals.Appraisals are kept confidential by all parties except as noted above, unless agreed to by both parties.NOTE: The percentage difference between appraisals is calculated by: (Highest-Lowest) over Highest x 100Step 2: Setting of the “Bookends” of the pricing range The upper limit of the “Range” is 6% above the Base Market Value or 3% above the highest appraisal, whichever is lower.

The lower limit of the “Range” is 6% below the Base Market Value or 3% below the lower appraisal, whichever is higher. This lower limit is not a price guarantee of any sort.

Step 3: Clear Outcomes If a qualified Third Party Purchaser makes an offer for a sale value within the Range, the Banff Housing Corporation will consent to the transaction and will not refuse to defer its equity on the basis of the price.

If a qualified Third Party Purchaser makes an offer for a sale value above the Range, the Banff Housing Corporation may refuse consent to the transaction and refuse deferral of its equity on the basis of the price.

The above process applies specifically to consent based on price. However, equity deferral can also be refused based on public policy. The choice to refuse equity deferral based on public policy can only be made for previously established and published public policy reasons.

When the BHC contacts you to advise that your opportunity to discuss the acquisition of the property with the homeowner has arrived, simply advise the BHC that you would like to pass on this opportunity at this time. There is no penalty for passing on an opportunity, so you remain on the RRL and continue to accumulate residency points as time passes.

Yes. There is nothing in the BHC’s sublease or policies that preclude an individual(s) from owning other property at the same time as they own their BHC property. However the BHC property must be owner- occupied and must be your primary residence. The definition of "Primary Residence" in the sublease agreement indicates that the residence “is the place that the Sub-Lessee ordinarily and continually occupies as his residence on a full time basis, as determined by the Corporation." The BHC Board (Board) determines full time basis to be day to day.

Yes. However an applicant cannot benefit from their points twice therefore the points you have used to acquire the current BHC home (residency, dependents, not owning property etc.) will be eliminated and you will only generate residency points (or dependent points if the child was born after possession of the current home) from the time of possession of the current BHC home.

You can rent your property only if you have first received written approval from the BHC’s Board of Directors. To date, the BHC has granted rental requests to sub-lessees only for educational and/or work related reasons and such approvals are generally one year long. After that time, the sub-lessee must decide whether they wish to return to Banff and continuously occupy the premises on a full time basis or move forward with their new opportunity (ies). BHC Rental Policy

The sublease agreement does allow that BHC properties may remain vacant for a maximum period of six consecutive months in any 12 month period, or a longer time if the Board authorizes that in writing. To date the BHC has not approved a property to be vacant for more than six consecutive months in any 12 month period.

The amount of down payment that you will require will be determined by your lender. Historically speaking, lenders seem to be requiring ten percent (10 per cent) of the price to the buyer as a down payment, although only your lender can confirm whether that is their current practice or not. For example, if the BHC consented to the sale of a BHC property and the sale price of the property was $600,000 and the homeowner had an 80 per cent equity share in the property ($480,000), if the lender did require the purchaser to have ten percent (10 per cent) down payment that would mean a down payment of $48,000 (10 per cent of (600,000x80 per cent)).

Yes, the law states that if your down payment is less than 20 per cent of the sale price, you must have mortgage insurance. However, with the BHC’s properties, the BHC equity percentage in the transaction added to the amount that your lender will require as a down payment from you exceeds twenty percent of the sale price of the property. Therefore, you will not have to pay a mortgage insurance premium if you acquire a BHC property. In lieu of mortgage insurance, the BHC will provide lenders a subordination agreement specific to the initial mortgage that a purchaser has on the subject property. The subordination agreement provides the lender with the type of security that mortgage insurance would. At present, Alberta Treasury Branches, Bow Valley Credit Union, CIBC and BMO recognize the subordination agreement. The BHC provides a subordination agreement only for the initial financial charge when the homeowner first acquires the property. The BHC will not provide a subordination agreement to subsequent financial charges registered on title.

Clear Bags FAQs

Requiring the use of clear bags to dispose of waste materials is a tool which fosters waste diversion. Numerous communities around the world have implemented the same clear bag requirement, and have found that use of clear bags for garbage increases the materials being diverted for recycling and organics processing, and decreases the quantity of materials in the waste stream.

Implementing a clear bag program also improves worker safety by enabling waste collectors to more easily identify if there are sharp objects such as broken glass or needles, or hazardous materials such as oil, paint or corrosive materials in the bag, prior to handling.

Yes. Many municipalities around the world have implemented clear bag programs, and all report an increase in the amount of recyclable materials that are diverted from the garbage into recycling programs. In some cases, overall diversion rates increase by 10 per cent above current rates with the implementation of a clear bag program.

No. Both clear plastic and black plastic garbage bags are manufactured from the same type of plastic resin – typically linear low-density polyethylene (LLDPE). The only difference between clear and coloured bags is the dyes which have been added to colour bags. From a sales perspective, the manufacturer’s suggested retail price should be equal (if not less) between the two products.

There is no mandatory requirement for residents to use clear bags for garbage. The mandatory use of clear bags is currently for the non-residential sector only. The Town may consider expanding the requirement to use clear bags to the residential sector in the future.

Future Housing Developments

Housing is a community-wide issue. The Banff Community Housing Strategy was developed by a local task force with extensive community consultation. Implementing its solutions is a shared responsibility. Private enterprise is part of the solution, and many local businesses, including Parks Canada, provide housing for their employees.

In June 2014, the board of directors of the Banff Housing Corporation decided to focus on its non-discretionary responsibilities; that is, services provided to the BHC homeowners and housing portfolio. The board requested the Town of Banff take over the development of housing and long-term housing planning. The Town has skilled staff and resources to undertake these tasks and project management.

Once the housing is developed, it will be managed in perpetuity by the Banff Housing Corporation.

Multiple studies identified the most critical need as a range of rental housing. The vacancy rate has been at zero for three years. Market rents are high, above the 30% income threshold. The Canada Mortgage and Housing Corporation states housing in Canada is considered affordable if costs account for less than 30% of the household income, before tax.

The site cannot be subdivided so the units will be rental in perpetuity (as opposed to ownership). Ensuring units remain rental properties was also one of the conditions of sale from Parks Canada.

In 2015, the Town of Banff met with Parks Canada to identify appropriately zoned vacant Crown land within the townsite that could be redeveloped. Parks Canada agreed to release two parcels of land near Deer Street and on Cave Avenue at approximately 89% under the assessed market value. The conditions of sale included that the Town must develop mixed-use, below-market rental housing, and that it must be managed as such in perpetuity by the Banff Housing Corporation. The land was not available to private developers.

The Town is borrowing the money so that taxes and reserves are not impacted. Banff homeowners are not subsidizing the development or the rent. Financing will be repaid through revenues generated from rents. The Town intends to use construction financing, as revenues will not be available until the rental units are occupied.

The housing levy is a line on your property tax bill indicating the amount of tax money directed to community housing sustainability. It’s about making the process transparent so taxpayers know where their money is being spent. The levy currently pays for the sustainable housing coordinator position at the Town and is approximately $7 to $10 per year for the median residential property.

Council has not approved or considered any other purpose for the housing levy at this time.

The project will be developed through a design-build process. The comments received through the neighbourhood meeting and open house have been incorporated into the request for proposal, which summarizes the requirements and criteria that the architect/builder must meet.

The lane is currently open from the north end. The south end exit off Antelope Street will be permanently closed with emergency access only. A traffic management plan will be part of the development to determine if the lane needs to be widened.

As with all housing in Banff, residents of this new rental housing must meet Parks Canada’s “need to reside” requirements for Banff National Park, meaning in order to live in Banff, you must work in Banff. Eligibility criteria will also be based on gross (before tax) family income. Further details will be available once units are ready to be rented.

Council has directed that 5% of the units be barrier free. The Deer Lane Affordable Housing Development will have 6 accessible units. This means wider doors, bigger bathrooms, no steps in the unit, plus ramps or elevator access.

Rental rates for this project are based on household affordability factors, as well as council’s direction to ensure a non-tax supported, cost recovery housing project. The rental rates were developed with a calculation based on Banff’s median employment income as per the 2013 Banff tax filer data (the most recent available dataset), with rent not be in excess of 32% of average income. The rental rates will be changed annually, based a review of median incomes in Banff. Finalized rental rates will be available in late 2017.

A wait list has not yet been established. The Banff Housing Corporation will inform the public when they are ready to take applications. Sign up for housing alerts to keep updated at http://banff.ca/notify. Sign up for notifications

The Deer lane Affordable Housing Development will employ a combination of onsite management, monitored security and a resident superintendent that will be available 24 hours a day. Tenants whom occupy the units will be subject to and responsible for adhering to all building rules and regulation including quiet times.

Heritage Programs

No. The Town of Banff administers a heritage plaques program to showcase significant people, places and events in the town’s history. All listed heritage properties on the Town’s inventory are eligible to have a blue plaque installed, but a plaque doesn’t indicate legal protection under a municipal historic resource designation. To confirm whether a property is designated, check out the Town’s roster of municipal historic resource designations. Designated Heritage Resources

Only properties on the inventory of listed heritage properties are eligible to receive blue plaques, so be sure to first confirm that your property is on the inventory. For details, contact Planning and Development at 403.762.1215. Registry of Recognized Heritage Resources

The Town of Banff’s heritage inventory is intended to keep a record of all properties recognized for their historic value. A property can be valuable due to architectural significance, its association with an important person, event or theme in the town’s history, or because it’s a landmark.

The Town of Banff maintains the inventory to keep track of properties eligible for further recognition, through heritage plaques or designations, and to make sure that nearby renovations don’t diminish their heritage value. However, inclusion on the inventory has no legal implication for property owners, and they may still use and alter their properties as they see fit. Registry of Recognized Heritage Resources

You can check out the Town of Banff’s inventory of listed heritage properties, which includes all properties recognized for their historic value, and the Town’s roster of designated municipal historic resources, which includes all properties that are legally protected and regulated under a municipal bylaw. Registry of Recognized Heritage Resources (PDF)

Yes! If you own a designated municipal historic resource, you can still renovate your property. There will just be particular “character-defining elements” that can’t be altered, they can only be maintained. This is because they’ve been deemed to contribute to the historic character of your property. Those protected elements will be listed in the municipal bylaw designating your property as a historic resource. The Town’s heritage planner will work closely with you and your renovation plans to help you make your alterations without impact on your property’s heritage character.

Property Taxes

In person, at Town Hall, 110 Bear Street, across the street from the Whyte Museum. We are open Monday through Friday, 8:30 a.m. to 4:30 p.m. There is a drop off box at the front entrance of Town Hall for after hours.

You can also pay online through your bank's online banking services. You will need your assessment roll number to set up the account. Or you can pay in person at your bank. Be sure the transaction is completed by property tax due date.

No. You cannot appeal your property taxes but you can appeal your assessment. The deadline for assessment appeals is 60 days after you've received your assessment notice. More about Property Assessments

Penalty charges of 1.5 per cent per month are charged on all overdue accounts. If there are arrears on your account, your payment will be applied first to arrears penalties, then to previous arrears, then to current taxes.

To avoid late payment penalties, you should pay in full. If you pay only a portion of your invoice, you will be charged the late payment penalty of 1.5 per cent per month on the balance owing. You may want to register for TIPP, our monthly payment plan, to help you budget your tax payments. More about TIPP

Yes. The Tax Instalment Payment Plan (TIPP) allows you to pay your taxes in monthly instalments. Monthly payments are made through an automatic debit to your bank account. The monthly amount is calculated by dividing your most recent annual tax levy by 12. Payments begin January 15 and are deducted on the 15th of every month throughout the year. More about TIPP

If you pay property taxes through your mortgage company, it will be noted on your tax bill under the Mortgage/Reference section. A copy of your bill will be sent to them. If it does not appear and you know you pay through your mortgage company, contact your mortgage company immediately.

Not usually. Owners of undivided half duplexes share one tax roll, so both owners will receive the exact same tax notice. You are only responsible for your share of the current year taxes, which is usually 50 percent. If you are unsure of the amount you owe, contact us at 403.762.1230.

Undivided half duplexes may have one owner on the tax payment plan (TIPP). If you own this type of property and you are not the TIPP, it means the other owner is. The total amount due may reflect your share of the tax. If you are unsure, contact us at 403.762.1230.

The Town introduced a new waste and recycling utility in 2011 that was phased in over several years. Prior to 2011, you paid for waste and recycling through your property taxes. In 2012, your utility bill included an amount equal to one half of your share of the solid waste collection management costs. The other half was still included in your property tax bill. In 2013, you paid 75 per cent of your solid waste costs on your utility bill and 25 per cent on your property tax bill. The 2014 and 2015 split remains the same as 2013.

The actual amount of the increase, or decrease, you pay will vary according to the value of your property and the rate it increased in value over the previous year. If your property’s value increase grew by more than the average, you will see a higher increase in your property tax bill. You may pay less if your property’s value decreased or grew by less than the average.

Bow Valley Regional Housing (BVRH) is a provincial commission with five member municipalities including Banff. They provide seniors housing in the Bow Valley region. For 2015, the BVRH levy is $304,508. The municipal housing levy supports community housing initiatives within Banff. The approved 2015 budget for this portion of municipal taxes is $49,250. This year, the levy has been listed separately from the rest of the municipal tax to provide transparency regarding the cost to property owners for current and future housing initiatives.

The other two portions of property taxes are the municipal levy for services such a police, fire, recreation and snow removal and the Alberta School Foundation Fund (ASFF) which is a provincial education tax. The 2015 municipal levy is $16,108,580 and the 2015 ASFF levy is $6,112,199.

Ti'nu Rental Applications FAQs

Download the application, eligibility requirements and checklist from banff.ca/housing and complete the forms. Make sure you include all the documentation required. Bring completed applications to Banff Town Hall, 110 Bear Street, and submit them at the community services desk. Banff.ca/housing

Ti’nu rental rates include heat, electricity, water and garbage. They do not include cable and WiFi. Rental rates will be reviewed yearly and adjusted according to a formula. All tenants will be required to verify income annually, three months prior to renewing a lease.

In order to qualify for a unit at Ti’nu you must provide notice of assessment income tax statements. Eligible residents will be required to meet both minimum and maximum income thresholds. Residents will not be allowed to spend more than 32% of their gross household income on rent based on these income thresholds.

Traffic Management FAQ

The concept of an additional lane on the bridge was modeled as a part of the Transportation Master Plan. Unfortunately, the model showed it would have limited effect. While two northbound lanes may provide additional queuing storage, the limited capacity of Banff Ave/Buffalo St intersection will continue to cause backups. And we can’t tear down the buildings on the corner to build capacity.

The addition of a fourth lane would require the sidewalks on the bridge to be narrowed on both sides from by one metre. This will negatively impact pedestrians and is contrary to council’s strategic priority of promoting sustainable modes of transportation. As well, a crash barrier between the sidewalk and driving lanes would likely be required with four driving lanes on the bridge leading to a further reduction in sidewalk width on a designated heritage structure.

A structural review is needed to assess the impacts of an additional load. In the long term, traffic volumes are likely to increase beyond the capacity that fourth lane could provide.

Council considered a trial lane reversal in November 2014 to assess the efficiency of two northbound lanes. The trial was not approved because Council felt the limits of the Buffalo/Banff Avenue intersection would make the trial ineffective.

No flagger can replace the technology and efficiency of our traffic signals, especially in a synchronized multi-intersection system; and the very busy days are becoming much more frequent.

Traffic signals at Banff’s intersections are synchronized to support travel down the main Banff Avenue corridor. On busy summer days, the northbound signal pattern is combined with green times specifically designed for high traffic volumes, with video detection cameras that support each direction. The cameras trigger a signal change if there is no traffic facing the current green light, and associate the extra, unused green time to the other movement. There is no point in time when the signals are not feeding traffic onto the bridge.

The RCMP advise that Banff’s intersections require two professionally trained traffic management officers (RCMP or Bylaw) for each intersection. This makes flagging expensive as well as ineffective at signalized intersections.

An intercept parking lot is one of the many ideas being explored by Town as a potential long-term solution. However, the Town of Banff has a fixed boundary; there is no existing space on the edge of our boundary to accommodate a parking lot of the size required on Town-owned land, and we can’t expand our boundary. Consequently, planning for this solution continues with the federal government and Parks Canada to acquire land for this purpose.

Annual traffic volume does not warrant a permanent removal. Uninterrupted flow is required only during our busiest days. Balancing pedestrian and vehicle movement is an important part to maintaining Banff’s transportation network and with thousands of people exploring Banff Avenue on foot all year, the pedestrian experience remains integral to Banff’s visitor experience.

An additional new parkade has been considered, most recently during budget discussions in November 2014; however, council decided to move the decision to build a new parkade to a vote of the electorate when the parking shortfall in Town reaches a deficit of 150 stalls or during the next municipal election in 2017. Preliminary pricing is around $70,000/stall for an elevated parking structure, and initial designs of a 240 stall parkade for Banff come in around $18.4 million. The potential sites include Wolf St (near Bow Ave intersection), Beaver Street North (the fire hall lot) and Beaver Street South (Mount Royal lot). However, with an estimated 10 year parking shortfall of 350 stalls (and an estimated 20 year parking shortfall of 500 stalls) a new parkade would quickly become a short term solution with long-term financial implications.

They regulate the movement of pedestrians at the mid-block crosswalks so that it does not interrupt the traffic flow during a coordinated green light for north/south travel as described above. Pedestrians may cross when the nearest intersection traffic signals are green for east/west. This tactic is employed on busy summer days only.

We’ve considered this idea, but Banff’s existing road configuration leading to the Bow River Bridge makes it difficult. There is no location near the point of intervention (i.e., the bridge) with ample storage and easy access for vehicles to wait until there is capacity at the south side parking lots, and there are very limited opportunities for vehicles to turn around before the bridge. In addition to the logistical difficulties, the businesses on the south side of the Bow River have expressed concern regarding the potential negative effects of limited access to their business.

No. Banff has high pedestrian volumes – an average of 1,000 pedestrians per hour and over 3,000 per hour during peak periods. Scramble crosswalks make pedestrian crossings more efficient by permitting diagonal crossings. And with an exclusive pedestrian phase, turning vehicles can move through the intersection without interruptions.

Your wait is shorter than you think. Motorists are waiting an additional 30 seconds per cycle at most (compared to summer 2013 signal timings) and pedestrians up to an extra 37 seconds per cycle. These wait times are reduced in the winter as the traffic signals operate with a shorter cycle length. Combined with optimized traffic signals (coordinated signalling for north-south travel), the scramble crosswalks do not impede traffic flow, and in fact, assist it, as shown in the 2014 trial.

In 2014, with scrambles, when the total daily vehicle volume was below 24,000 vehicles per day, there were no days in July or August where the travel time delay was greater than 15 minutes maximum. In 2013, with the same vehicle volume, five days experienced greater than a 15-minute maximum travel time delay. As well, the east/west side streets did not experience significant vehicle queuing during the summer of 2014, which indicates traffic flowing in the area.

Beyond 24,000 vehicles per day, the road network is over capacity and congestion occurs.

The time for crossing was lengthened when the pattern changed to allow diagonal crossings. The total time is 25 seconds. It seems shorter because the signal light begins to countdown after just a few seconds so pedestrians have adequate warning.

This timing exceeds the Canadian standard for calculating pedestrian clearance of 1.2 metres/second and is balanced to meet the needs of all users. Any longer would negatively impact traffic flow, or inconvenience both pedestrians and motorists, as the timing is related to the other actions to improve flow.

Occurrences where delivery trucks negatively affect traffic flow for prolonged periods are rare. Vehicles parked in the alleyways force delivery trucks to wait on the side street; vehicles parked near the alley entrances reduce the ability for larger vehicles to turn into alleys. To resolve these problems, the Town of Banff has increased enforcement on alley parking bylaws. Additionally, no parking zones at alley entrances have been clarified with signage and pavement markings to ensure there is clearance for large trucks to turn.

No. The project has been moved to ‘no year identified’ in the capital plan. Originally proposed in 2013, analysis determined that signal lights would not sufficiently enhance traffic flow during high volume periods. By leaving the project in ‘no year identified’ Council may reconsider the project should traffic flows change.

This number provides a baseline for the approximate number of vehicles travelling town roads over the course of a day. Regardless of travel direction, the Banff network has a vehicle volume capacity. The number does not represent the total number of vehicles in town at one time, as it obviously excludes all those already present in town.

To create more available parking stalls near the downtown core, Council approved angle parking on Bow Avenue. This resulted in 42 additional parking stalls in 2014. But Bow Avenue is narrow and can only safely accommodate one lane of traffic with angle parking; Council considered but did not wish to cut down trees by the river to widen the road.

The direction of the one-way street changed to south-north (from Buffalo Street to Wolf Street) in May 2015 to harmonize parking access with the pattern of visiting motorists. We found motorists tended to drive downtown or to the end of Bear St, and then look for parking. Now they will be able to turn right onto Buffalo and head to Bow Avenue to park. Before, they were forced to circle through the downtown. The parking time limit is 12 hours, with no parking between 11 p.m. and 6 a.m.

Council will review the results of the one-way/angle parking trial and make long-term decisions after the summer.

Work in Banff

Bare minimum, $3,000 (CDN). You'll need a damage deposit and first month's rent, plus funds for groceries, transportation and communication. You'll also need some funds to tie you over until you find a place to live. Plan for several months living expenses without an income, just in case you don't start work immediately.

Banff is solely a tourism economy, and tourism is impacted by global events. The job market fluctuates by season as well. There is an array of entry level tourism positions available. Do your research, contact employers before you arrive and update your resume, as you may be pounding the pavement for longer than expected.

Finding a place to rent can also be challenging. References are essential. Some employers offer staff accommodation, so inquire during your application process.

The local newspapers, bulletin boards around town and word of mouth are your best channels for finding a place to rent. Look online Wednesdays for the Crag and Canyon listings and Thursdays for the Rocky Mountain Outlook, the two local newspapers, plus at kijiji. Also check property management companies and real estate offices.

Absolutely. In addition to several free wireless cafes in town, the Banff Public Library has Internet service. The Town of Banff has cell network coverage. You may lose connection when you head into the wild.

Banff has a great array of shops for alpine and activity gear and outdoor clothing. Prices can vary. Your best bet is the gear swaps in Banff and Canmore, usually happening pre season. End-of-season sales are the next best bargain. You can also find used gear on Kijiji, but as with all used items and buying online - buyer beware.

Accommodation: It varies, and can be anywhere from $500 to $700 for a room in shared accommodation, or $1,000 to $2,000 for an apartment. (Landlords will ask for a month's rent as a damage deposit as well.)

Utilities: Most rental properties in Banff and Canmore include utilities as part of the monthly rent. Otherwise, budget $50- $70 a month for electricity (EPCOR) and/or $30 to 90 per month for natural gas, depending on the season and property. You may be required to put down a deposit for utility services which can be up to $100. A telephone land line is approximately $30 per month and $150 installation (service provided by both Telus and Shaw). Cell phone service provided by Telus and Rogers and depends on your package.

Other Essentials: You're in Banff to have fun, so budget for a ski pass, nights out, concert tickets from the Banff Centre and a few movies. Save money with free rentals of dvds, magazines, audio books and more from Banff Public Library. No charge to join if you're a Banff resident.

The majority of the population in Banff is between 20 and 45. BanffLIFE offers a number of programs and events for the under 30 crowd that is an ideal way to meet new people. There are a number of interest organizations, or try volunteering at a community event.